Tax incentives News

Larger corporates paid lower tax rates than smaller ones for 2015-16.

The startup community reacted positively to the tax incentives announced in the Budget, but feels the government has not done enough to address their near-term concerns.

As the government readies an action plan for startups, an investors' body Friday sought tax incentives on investments and easier norms for opening and closure of a company to give a boost to such ventures.

The idea of giving tax incentives for purchase of roof top solar panels will be taken up with Finance Minister Arun Jaitely, Union Minister Piyush Goyal said on Saturday.

Encouraged by tax incentives for investment in retirement schemes floated by mutual fund houses, LIC Nomura MF has lined up plans to launch such product.

Besides, Reliance Capital Asset Management Company, in December last year, had got the government's approval for first-ever equity-oriented pension scheme, giving tax benefits to investors.

The Minimum Alternative Tax (MAT) will become irrelevant with removal of tax incentives and reduction in corporate tax rate to 25 percent over next four years, Revenue Secretary Shaktikanta Das said.

SBI Chairperson Arundhati Bhattacharya Thursday pitched for a slew of tax incentives for housing and education loans in the forthcoming Budget for boosting economic growth.

The real estate investment trusts (REITs) will usher in a great deal of transparency in the sector and thus attract global funds, a senior executive of market watchdog Sebi said on Wednesday.

The FTP or its annual review, which is usually announced in April, gives guidelines for enhancing exports with the overall objective of pushing economic growth and generating employment.

Realty players and investors have been seeking more clarity on the taxation structure for newly-created Reits and InvITs.

Industry body Assocham has sought tax incentives, market-linked tariff rates and grant of infrastructure status to the port industry in the upcoming budget for turning India's coastline into a growth catalyst.